6 Comments:

Well if there really is plenty of oil one would expect the price to come down. It seems fairly stable at $80 barrel. Of course production/ security costs have gone up too. I think an attack on Iran is probably the biggest factor in futures pricing.

Secrets are kept : except there were securities traded for oil recovery in what used to be a National Park reserve in the Dakotas, supposedly for vast deposits.Scuttlebutt around the patch - I live in Alberta in oil country : there's a well on this section ! -was more interesting : that reserves at the Beaufort Sea were being understated all to hell and kept secret. Of more interest was the lack of construction of oil refineries..for something like 20 years now. They are wearing out.

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This is not the America I was brought up to believe in.
This blog seeks to highlight abuse of power, deception, corruption, and just plain bad ideas in government and corporations.
Updated several times a day.